Ronda Rousey Is Returning to the Ring

Former UFC champion Ronda Rousey will return to action and fight Brazilian star Amanda Nunes at UFC 207 on December 30 at T-Mobile Arena in Las Vegas, UFC president Dana White announced on The Herd with Colin Cowherd.

Rousey, 29, has not fought since losing her bantamweight crown to Holly Holm at UFC 193 in November. It was the first loss of Rousey’s career.

Since Rousey’s defeat to Holm, the title has changed hands twice. Holm losing to Miesha Tate with a fifth-round submission. Tate lost to Nunes in July in a fight that lasted just over three minutes.

“If they ask me who I want to fight, I’m going to say I want to fight Ronda. I’m not running from anyone, I’m the champion and I can choose who I’m going to fight,” Nunes previously told Combate. “I will choose what’s best for me and Ronda would be ‘the’ main fight, that’s why it has to be against her, it has to be with Ronda.”

During her break, Rousey took time to focus on her movie and entertainment career. She has resumed training with trainer Edmond Tarverdyan.

Rousey previously expressed interest in fighting her rival Cris “Cyborg” Justino upon her return, but White has said Rousey will get a chance at her former title upon her return to the octagon.

UFC’s New Celebrity Investors Hope to Market It to the Mainstream

Some of Hollywood’s most famous celebrities really love the UFC, and now they want you to love it too.

Ben Affleck, Sylvester Stallone, and Conan O’Brien are just three of the 23 famous faces to invest in the ultra-violent mixed martial arts league formally known as the Ultimate Fighting Championship, the Wall Street Journalconfirms. The wealthy stars are all clients represented by the WME-IMG Hollywood talent agency, which bought the UFC in July.

The A-listers buying ownership stakes also include Mark Wahlberg, directors Michael Bay and Tyler Perry, along with NFL stars Tom Brady and Cam Newton, Tennis stars Serena Williams and Maria Sharipova, and singers Adam Levine and The Weeknd, among several others, according to CBS Sports.

WME’s co-CEO Ari Emanuel told the Journal after his company bought the UFC, he asked some of his celebrity clients who were fans of the MMA league if they wanted in.

“They would always ask for tickets,” Emanuel told the Journal.

Founded in 1993, the UFC was once marketed as a “no holds barred” bloodsport where “anything can happen.” That drew the ire of lawmakers like Arizona Sen. John McCain and resulted in 36 states banning the league before it was sold to Las Vegas Casino tycoons Lorenzo and Frank Fertitta, who founded Zuffa, the UFC’s former parent company. After a huge makeover involving rule changes and new marketing strategies, MMA and UFC fighting became legal everywhere in the U.S. except New York—or at least initially. In March, the state lifted its professional MMA ban and is set to host its first UFC event at Madison Square Garden in November.

The Fertitta brothers bought the UFC for $2 million in 2000. They sold it to WME this summer for $4 billion. Private equity firms Silver Lake Partners and Kohlberg Kravis Roberts & Co. kkr also invested in the deal.

While the UFC’s popularity has grown immensely over the last 16 years or so—earning major ad deals with sponsors like Anheuser Buschbud and Harley Davidsonhog along with an estimated $700 million TV contract with Fox Sports Media in 2011—it has yet to rival the NFL, NBA, or MLB in terms of revenue and popularity. The NFL generated a record $7.3 billion from TV broadcast revenue for its 2014-15 season, according to Fox Business, while the UFC only made about $100 million over the same period.

It appears WME is hoping mainstream celebrities like Affleck can help change that.

Who Is Dana White and Why Is He Speaking at the Republican Convention?

The speaker list for Donald Trump’s Republican National Convention has been a bit different from past political conventions. Actors like Scott Baio spoke on Monday night. And on Tuesday, we will hear from Dana White, the president of the Ultimate Fighting Championship, a mixed martial arts company.

White purchased the UFC in 2001, when mixed martial arts was still mostly a fledgling sport in the United States. It was thought of as glorified street fighting and received very little mainstream media attention. Through aggressive promotion and a very successful reality program (sound like anyone else?), White grew the UFC into a huge business that rivals traditional combat sports like boxing.

Earlier this month, White sold the UFC for a rumored $4 billion, an astronomical leap from the $2 million the company was worth in 2001.

Republican National Convention

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Republican U.S. presidential nominee Donald Trump reacts to balloons, confetti and electronic fireworks as he stands with his son Barron (L) at the conclusion of the final session of the Republican National Convention in Cleveland, Ohio, U.S. July 21, 2016.

Jonathan Ernst — Reuters

Balloons fall as Trump and vice presidential nominee Governor Mike Pence stand with their families onstage at the end of the final session.

Aaron Bernstein — Reuters

Balloons drop Trump’s speech.

Carlo Allegri — Reuters

Trump and Pence stand on stage after Trump’s speech.

Rick Wilking — Reuters

Medea Benjamin of Code Pink is carried out after disrupting the speech of Trump.

Tom Williams — AP

Trump delivers a speech during the evening session on the fourth day of the Republican National Convention

John Moore — Getty Images

Ivanka waves as she walks off stage after introduction her father.

J. Scott Applewhite — AP

Ivanka Trump delivers a speech during the evening session.

Jeff J Mitchell — Getty Images

Peter Thiel, co-founder of PayPal, delivers a speech during the evening session

Win McNamee — Getty Images

Sen. Cory Booker, D-N.J., makes his way through a crowd into the main entrance of the Quicken Loans Arena.

Jabin Botsford — The Washington Post The Washington Post/Getty Images

Police horses stand in a line in Cleveland Public Square.

Monica Jorge — Sipa USA/AP

A delegate wears an American flag themed flower on a hat.

Andrew Harer — Bloomberg via Getty Images

A pro-Trump supporter waves a flag among a crowd of counter protestors.

Monica Jorge — Sipa USA/AP

A man holds a sign aloft during an anti-Trump protest.

Andrew Kelly — Reuters

Singer Heavenly Joy performs during the start of the fourth day.

Win McNamee — Getty Images

A man with a security credential takes a selfie at the podium as Trump, flanked by campaign manager Paul Manafort and daughter Ivanka, checks the podium early Thursday afternoon in preparation for accepting the GOP nomination to be President.

Bill Clark — AP

Trump stands with Republican vice presidential candidate Mike Pence and acknowledge the crowd on the third day.

Chip Somodevilla — Getty Images

Eric Trump, son of Trump, addresses the third session of the Republican National Convention.

Brian Snyder — Reuters

People react to Sen. Ted Cruz, R-Tex., as Cruz addresses the delegate during the third day session.

Matt Rourke — AP

Cruz gives a thumbs up after speaking during the third night.

Mike Segar — Reuters

A police officer holds a confiscated American flag after arresting a protester.

Victor J. Blue — Bloomberg via Getty Images

A supporter of the Revolutionary Communist Party is arrested by police after assisting other members with burning a U.S. flag outside the gates.

Adrees Latif — Reuters

Cleveland police officers detain a protester.

Lucas Jackson — Reuters

Cleveland police officers clash with a group.

Lucas Jackson — Reuters

Law enforcement officers clash with protesters.

John Minchillo — AP

Law enforcement officers take a protester into custody.

Patrick Semansky — AP

A law enforcement officer clashs with protester who is holding a burning an American flag.

John Minchillo — AP

Boxing promotor Don King is seen on the convention floor.

Aaron Josefczyk — Reuters

Delegates bow their heads before the start of the third day of the Republican national Convention.

Jim Watson —AFP/Getty Images

Delegates celebrate on the floor of the Republican National Convention after the Speaker of the House Paul Ryan announces Trump’s official nomination on July 19, 2016 in Cleveland, Ohio.

Members of the Alaskan delegation react after Donald Trump secured the nomination.

Jabin Botsford — The Washington Post/Getty Images

Supporters of Republican U.S. presidential nominee Donald Trump attempt to obscure a protestor from the activist group Code Pink, who is holding an anti-racism and anti-hate banner, as she interrupts the proceedings.

Mark Kauzlarich — Reuters

Delegates cheer as a signboard shows the announcement of Republican U.S. presidential candidate Donald Trump’s name being placed into nomination.

New Jersey Gov. Chris Christie is surrounded by photographers as he attends the evening session.

Matt Rourke — AP

People in the crowd try to block anti-war protestor Alli McCracken (C) of the “Code Pink” activist group.

Carlo Allegri — Reuters

A delegate yawns prior to the start of the evening portion.

Brian Snyder — Reuters

Former Mayor of New York City Rudy Giuliani addresses delegates.

Anthony Behar — Sipa USA/AP

Bob Dole attends the first day.

Tasos Katopodis — WireImage/Getty Images

Delegates sit as signs lay on the floor.

John Taggart — Bloomberg via Getty Images

Former Republican U.S. presidential candidate and former Texas Governor Rick Perry takes the stage to speak.

Jim Young — Reuters

Wisconsin Gov. Scott Walker takes a photo with a delegate.

Joe Raedle — Getty Images

Police on bicycles create a cordon around demonstrators from various groups, including “End Poverty NOW! March for Economic Justice,” as they march in protest.

Adrees Latif — Reuters

The anti-Trump movement appears all but defeated. But that doesn’t mean they’ll go quietly.

John Locher — AP

Willie Robertson, star of the television show “Duck Dynasty,” speaks at the convention.

Brian Snyder — Reuters

Demonstrators listen as the band Prophets of Rage performs during an End Poverty Now rally.

John Minchillo — AP

A Republican National Convention delegate screams as the Chair announces that the convention will not hold a roll-call vote on the Republican National Convention Rules Committee’s report and rules changes and rejects the efforts of anti-Trump forces to hold such a vote.

Mark Kauzlarich — Reuters

Members of the Texas delegation waive their hats on the floor. An estimated 50,000 people are expected in Cleveland, including hundreds of protesters and members of the media.

Samuel Corum — Anadolu Agency/Getty Images

Republican National Convention delegates yell and scream as the Republican National Committee Rules Committee announces that it will not hold a recorded vote on the Rules Committee’s Report and rejects the efforts of anti-Trump forces to hold a roll-call vote.

Jonathan Ernst — Reuters

A policewoman holds back a “Black Lives Matter” supporter as she shouts towards supporters of Donald Trump, who said they were members of “Bible Believers” during the Republican National Convention.

Adrees Latif — Reuters

Jake Byrd of California dances on the convention floor on the first day of the Republican National Convention on July 18, 2016 at the Quicken Loans Arena in Cleveland, Ohio.

Joe Raedle — Getty Images

A Trump/Pence poster appears over the convention floor.

Dominick Reuter — AFP/Getty Images

Former U.S. Senator from New Hampshire Gordon Humphrey, a leader in the “Never Trump” movement, holds a business card in front of his face as he arrives on the floor.

Brian Snyder — Reuters

A woman yells as she is taken into custody by police during the Republican National Convention.

Shannon Stapleton — Reuters

Bob Little from Warren Mich., salute as he observes a presentation.

Matt Rourke — AP

Dana Dougherty from Deltona, Fla., cheers as she holds a Donald Trump figure.

Carolyn Kaster — AP

Journalists talk with a man openly carrying a gun downtown.

Jeff J Mitchell — Getty Images

Sharon Day, Co-Chair of the Republican National Committee, speaks during the first day.

Texas delegates to the Republican National Convention hold their hands over their hearts for the U.S. National Anthem.

Mike Segar — Reuters

Speaker of the House Rep. Paul Ryan, R-Wis., laughs during a breakfast with Pennsylvania delegates during the Republican National Convention in Westlake, Ohio.

Evan Vucci — AP

Corey Lewandowski arrives to the floor of Quicken Loans Arena.

Matt Rourke — AP

Demonstrators chant during an anti-Donald Trump rally in Cleveland.

Jim Watson — AFP/Getty Images

Reince Priebus, chairman of the Republican National Committee, bangs the gavel to officially the open the first day of the Republican National Convention.

Win McNamee — Getty Images

A delegate appears on the floor.

Tom Williams — CQ-Roll Call,Inc./Getty Images

A delegate wears campaign buttons in support of Donald Trump before the start of the Republican National Convention.

Andrew Harrer — Bloomberg via Getty Images

Two men dressed in suits stand as people gather downtown for the first day.

Jeff J Mitchell — Getty Images

Delegate George Engelbach, right, gestures to his hat while laughing with a fellow delegate.

John Taggart — Bloomberg via Getty Images

The Tennessee delegation section is seen before the opening.

Andrew Caballero-Reynolds — AFP/Getty Images

Booklets are placed on chairs as the Quicken Loans Arena is prepared for the arrival of delegates on the first day of the Republican National Convention in Cleveland, Ohio on the first day.

Joe Raedle — Getty Images

Senate Majority Leader Mitch McConnell speaks with Robert “Mike” Duncan, former chairman of the Republican National Committee, left, during a walk through inside the Quicken Loans Arena “The Q” ahead of the Republican National Convention.

Andrew Harrer — Bloomberg via Getty Images

Demonstrators march during the Shut Down Trump & the RNC protest.

John Minchillo — AP

A woman takes a selfie from the stage as preparations get underway on July 17th.

Jeff Swensen — Getty Images

A man holds up a sign against Presidential candidates Trump and Hillary Clinton outside the Quicken Loans Arena.

Bloomberg Bloomberg via Getty Images

A campaign bus from Herman Cain’s 2012 Republican candidacy is covered with signs for the comedian Samantha Bee amid preparations for the arrival of visitors and delegates.

Dominick Reuter — AFP/Getty Images

Women pose nude for photographer Spencer Tunick’s art installation “Everything She Says Means Everything” near the location of the Republican National Convention.

White has been a supporter of Trump from the beginning, one of the “tough guys” that Trump has prided himself on winning over. He’s used the endorsements of people like White and former boxing heavyweight champion Mike Tyson to bolster his credentials as the “law and order” candidate, however tenuous that connection may seem.

While Baio and some of the other celebrities speaking are, let’s just say, a bit past their prime, White is a legitimate rising star in the world of sports promotion. He is charismatic and may very well give an interesting, if unconventional, speech.

Meet the UFC’s New Owners

Talent agency WME/IMG on Monday announced an agreement to acquire UFC, the mixed martial arts powerhouse that recently completed its 200th flagship event. No financial terms were disclosed, but sources familiar with the deal put the price-tag at around $4 billion.

Private equity firms Silver Lake Partners and Kohlberg Kravis Roberts & Co. KKR each are putting money into the deal and getting minority states in the company in the form of common stock, and will receive some governance rights—typically the ability to vote for board members and other matters—in UFC, which will remain a separate company from WME. Michael Dell will also become a part owner of the company, indirectly. Two investment affiliates of the computer company CEO are providing preferred equity. The deal will also include unspecified debt financing.

Some notes on this one:

1. My understanding is that Silver Lake and KKR are investing the same amount of equity for minority stakes, although Silver Lake has additional indirect exposure via its existing investment in WME.

2. WME has represented UFC for over 10 years, but its representation of individual fighters has only been on media and endorsement deals. In other words, it won’t be on both sides of (sometimes contentious) negotiations between UFC and its fighters. We should expect, however, that WME will aid in making more UFC fighters household names―something that is particularly important in a women’s division that lately has been unable to have its champions defend their belts.

3. Speaking of the women’s division, there has been a lot of talk about how UFC is perhaps the only sport that puts its top men’s and women’s events on equal footing in terms of timing and promotion. This―alongside the short duration of MMA fights―is often credited as helping attract the millennial audience that has helped drive UFC’s massive growth.

4. ESPN had first reported on the sale process back in May, after which UFC president Dana White called the reports bogus, saying the company “is not for sale.” At the time, we reported that White was either lying or misinformed (more likely the former), as UFC had already engaged bankers that had spoken with WME (among others). It is, however, worth noting what White said directly after the aforementioned statement: “If somebody shows up with $4 billion, we can talk.”

5. We also reported at the time that prospective buyers viewed White’s continuing involvement as integral to any deal. Indeed, he will remain UFC president going forward.

6. WME was sure to point out in its press release that UFC is “one of the largest contributors to the Cleveland Clinic’s Professional Fighters Brain Health Study,” and UFC has talked about how its fighters take fewer repetitive hits to the head than do boxers or football players. That said, I’d have to believe that WME is assuming some serious liability risk in this area.

UFC Has Sold Itself For $4 Billion

Ultimate Fighting Championship has agreed to sell itself to a consortium led by talent agency WME | IMG for a reported $4 billion, as the sport continues to plot global expansion.

The acquisition was confirmed by UFC as being steered by WME | IMG, which will serve as the operating partner, along with equity financing support by private-equity firms Silver Lake Partners, KKR, and Michael Dell-controlled MSD Capital. While terms of the deal weren’t disclosed, theNew York Times was among the first to report the news and pegged the acquisition’s value at “about $4 billion.”

“No other sport compares to UFC,” said UFC President Dana White in a statement. He will continue in that role after the acquisition.

The sport was founded in 1993 as a pro mixed martial arts organization but didn’t begin to see mass appeal until after it was acquired by Zuffa LLC in 2001 for just $2 million, in a deal steered by Frank Fertitta, Dana White, and Lorenzo Fertitta. The UFC now produces more than 40 live events annually, with the programming broadcast in over 156 countries and territories to nearly 1.1 billion TV households worldwide. The organization also operates a digital subscription service and licenses the brand to over 100 gyms.

The Fertitta brothers will retain a passive minority interest in the organization, though chairman and CEO Lorenzo Fertitta will step down from day-to-day operations after the deal is complete.

Media reports have swirled for several weeks speculating on a potential sale of UFC, which White denied as recently as May, saying it was “not up for sale” in an interview with ESPN. White did quip at the time that if “somebody shows up with $4 billion we can talk. We can definitely talk.”

At the time, White said the brand’s focus was moving into new territories like China. He also said that the property had been getting acquisition offers since as early as 2010, back when an offer was on the table for $1 billion. Holding out paid off handsomely for him and his partners.

UFC become a more mainstream property after it inked a critical seven-year broadcast deal with Fox Sports Media Group in 2011. That helped elevate some of the sport’s biggest stars, including Ronda Rousey and Conor McGregor, to become household names. The respectability of the sport also got a boost when it signed a six-year partnership with Adidas-owned apparel maker Reebok in late 2014.

The valuation UFC commanded is truly rich when compared to the market value for World Wrestling Entertainment wwe, which has been in the sports entertainment business for over 30 years but is worth a less impressive $1.5 billion.

ESPN said that interested bidders were WME IMG Holdings, a media and talent agency that represents sports stars and celebrities, along with two Chinese firms China Media Capital and Dalian Wanda Group, and U.S. private equity firm Blackstone Group bx.

The firms ESPN said were exploring bids for UFC declined to comment or did not return requests for comment.

UFC, which features a blend of fighting styles, was founded in 1993 and holds more than 40 fights per year around the world, according to its website.

Live events and sports brands are some of the most attractive and fast-growing areas of the media industry.

Though McGregor’s intention to retire has not yet been officially confirmed, the featherweight champion was pulled from UFC 200 on Wednesday by UFC president Dana White. The announcement of his removal came after the cryptic tweet, but White said the change was a result of McGregor’s failure to appear at a mandatory press conference.

As the UFC searches for a replacement for the main event of the July 9 fight, other MMA fighters reacted to the situation on Twitter.

The news comes in the wake of a McGregor loss to Diaz in March, which was McGregor’s first UFC defeat as well as his first professional loss in six years.

Some media reports have noted that McGregor was present during a match a week ago, when fighter Joao Carvalho died from injuries sustained in the ring, as reported by ESPN. On Facebook, McGregor wrote, “To see a young man doing what he loves, competing for a chance at a better life, and then to have it taken away is truly heartbreaking.”

Fortune has reached out to the UFC for comment, and we will update this post once we hear back.

Why the UFC May Head to Yankee Stadium Next Year

With MMA recently legalized in New York state, the UFC has turned its attention to hosting events at venues throughout the state, including Yankee Stadium, according to Newsday.

UFC chairman and CEO Lorenzo Fertitta has previously stated that the organization will organize at least four fights per year over the first three years of legalization in New York. The pledge includes seeking at least one venue in upstate New York.

Newsday reports that the UFC and Yankees officials have not yet made a decision regarding the use of the Bronx stadium, but that a meeting is planned for the future.

“There’s a bunch of other venues we want to go to,” Fertitta said. “We want to go to Barclays [Center], we’ve had discussions with Yankee Stadium to do something next summer there.”

Yankee Stadium would be among the largest venues to ever host a UFC card and the promotion’s first major outdoor event.